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Oct 29, 2012 6:30pm PDT
irene was the most recent storm pummel theor northeast. it cost the industry roughly $4.3 billion in insured losses. analysts can't yet predict howse steep losses from sandy will be, but they say the companies with the most exposure ilude:de liberty mutual, avelers, allstate, and chubb. auden thinks those firms will bl able to shoulder a financial hit if the storm's damage mirrors that of irene. >> with every event cpanies gather more information on potential losses, so catastrophe losses become much more sophisticated. companies use those to measure aggregationf lossan ential losses from a given event. >> reporter: damage from wind, falling trees, and rain coming through roofs is covered by standard insurance policies. but analysts fear much of the damage from sandy to homes and businesses is likely to come from storm surge floodinwhich isn't. the insurance in rmationon institute estimates roughly 300,000 homes in the northeast could be vulnerable to this type of event. but the institute is optimistic many homeowners have flood insurance. >> nothing sells flood coverage like a fl
Oct 31, 2012 12:00am PDT
anything else they've experienced? >> there's some comparison to the last stor.. 14 months ago, irene. that was when the subways were shut down. but the difference was the subways ultitely weren't damagedded. so they got pretty much right back into... right back into work. you know, it's interesting.e e're not getreng g the 9/11 comparisons which is really the last thing that fuy afycted everybody in theed city. but you're not really hearing that. the comparison that came up, for instance, the new york stock ex-closed for weather two days in a row. the last time they did that was the blizzard of 1888. nobody around here meers thehe blizza of 1888 so there's not a lot of talk about, we look back and remember that big old blizzard. >> woodruru owe understand the stock exchange is open againnd tomorrow. what about work in general? are people expecting to go back toork, to get any semblance of life back to normal? >> tomorrow will be a really interesting day becauseo i think after two days and after the weather kind of gets back to normal, you will get people feeling antsy. you will get t
Oct 26, 2012 6:30pm PDT
andiop len. you had hurricane irene in 2011. this year, you look at june 2012, you had the colorado wildfire. you had hurricane isaac which hit louisiana. what we're looking at with sandy is multiple states across some of the most heavily populated states on the east coast, and that'sat why this has caught everybody's attention for good reason. >> susie: what about businesses? to what extent are they covered through all of this, or is there a deference being a homeowner-- we have heard companies have closed operations for the next few days. >> well business insurance policy coverage is comparable to a home insurance policy, they're going to cover you for windo damage. most business insurance policies have a provegz in them called bi, or business interruption coverage. so if their property is hit directly and it causes them to shut down for a period of time, ecoftentimes they can file a clm and be covered for the business potentially had, had there not been a hurricane that hit their property. >> susie: everybody is hoping the storm goes out to sea and doesn't do much dama s. thanks
Oct 30, 2012 6:30pm PDT
to eqecat. hurricane irene did $10 billion damage 14 months ago. >> susie: wall street was closed again today for the second straight day because of hurricane sandy. this is the first two-day weather-related shutdown since bu88 t the joe r exchanges are expected to reopen tomorrow. all systems are a go. the new york stock exchaane said the opening bell will ring as usual at 9:30 a.m. eastern time. the nasdaq will also open for normal operations on wednesday. that's just what investors wanted to hear. xcth exchanges have been running tests today to make sure all systems were runng >> susie: the nyse's building is located on wall street, just blocks away from the section of lower manhattan that was deluged by hurricane sandy. but there was no flooding at the t g board, and no other damage to the building, trading floor and trading systems. but while the nyse and nasdaq expect tomorrow to be business as usual, it won't be a typical day for people trying to get to work. and of new york's bridg tunnels are still closed and subways are flooded. it could take five days or mor
Search Results 0 to 3 of about 4